Although almost the entire cryptocurrency industry started 2020 with big price increases, one has stood out above the pack. Bitcoin SV (BSV) kicked off the year at below $100 and now trades for more than $300.<\/p>\n
Whereas most digital currencies have traded sideways over the last 24 hours, Bitcoin SV is gaining in market capitalisation once again. However, at least one market analyst believes the dramatic price pumps are anything but organic.<\/p>\n
Whether you like it or not, BSV price has been pumping hard this year. The digital currency, championed by Satoshi Nakamoto claimant Craig Wright, has gained more than 300 percent<\/a> in the last 20 days. As NewsBTC<\/em> reported<\/a>, it even briefly flipped rival Bitcoin fork Bitcoin Cash (BCH).<\/p>\n Since last week’s industry wide price pumps, the markets have somewhat quietened down. However, Bitcoin SV is still moving upwards. Whereas most digital assets have seen neither gains nor losses over the last 24 hours, with around a 20 percent increase, BSV is still flying.<\/p>\n Following the initial pumps, NewsBTC<\/em> reported<\/a> on various theories explaining the sudden movement. Different analysts have suggested that developments in Craig Wright’s legal battle with the estate of his former business partner Dave Kleiman, promises of upcoming protocol upgrades, a growing BSV community in China, and poor market liquidity<\/a> all might be behind the unusual price action.<\/p>\n Adding their own theory to the mix is cryptocurrency entrepreneur and Chief Technical Officer of CoinText, Vin Armani. In the following Twitter<\/a> thread, Armani accuses Calvin Ayre, one of the biggest BSV proponents and, apparently, one of its only miners, of operating a sophisticated wash trading scheme.<\/p>\n THREAD<\/p>\n The mechanics of the BSV pump is pretty interesting. I've been watching this develop for days.<\/p>\n No one but Calvin is mining BSV. Adding more hash doesn't get him more BSV.<\/p>\n So he deploys hash on BCH a couple weeks ago (unknown miner with like 60%)<\/p>\n — Cyprian (@cyprianous) January 14, 2020<\/a><\/p><\/blockquote>\n\n